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are still being exposed in their own homes. ,, ,,,,,, fiscal cliff. but in washington today, signs of e movement amo >>> just over a month the country to go over the "fiscal cliff" but in washington today signs of some movement among lawmakers. cbs reporter danielle nottingham on how the president is holding their feet to the fire. >>> reporter: president obama is enlisting middle class americans to pressure congress to back away from the "fiscal cliff." >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: he will take his case on the road friday and is asking the public to join a twitter campaign calling on lawmakers to renew tax cuts for families making less than $250,000 a year without delay. >> campaign for his position i did it we understand it but at the end of the day he has to lead on this issue. >> reporter: while congressional leaders meet behind closed doors, some of the biggest names in corporate america are here on capitol hill meeting with lawmakers pushing for solutions. former tennessee governor told lawmakers everything needs to
to avoid that fiscal cliff. tracy pots joins us from washington with all the details. good morning to you. >> good morning, everyone. a number of high level but individual meetings scheduled here today on capitol hill with really just a handful of lawmakers who could have a big impact on your paycheck. tim giter in and rob neighbors bring the deficit cutting plan to capitol hill today. >> reporter: negotiators are meeting with boehner and top democrats. they heard the plan wednesday at the white house. at least one thinks there could be a deal here. >> if i were involved in the negotiations like this and everybody was purporting to be where they are, i would say that an agreement is reachable. >> i'm hopeful. it wouldn't put me anywhere near optimistic. >> reporter: one conservative is suggesting that while negotiations continue, congress should stop tax rates going up on the middle class now. >> we're not going to raise taxes on those people. i think we should make that clear to everybody. >> reporter: bottom line, no deal yet. both sides are still talking. and both sides signalling that
uncertainty over the battle of the fiscal cliff in washington. that concern might be showing up in the manufacturing sector. the feds said that in some places around the country, manufacturing was slowing down and actually contracting outright. but it said that hiring was up modestly most places and with the holidays coming up. it said that the outlook for retail sales was mostly upbeat. shep? >> shepard: what's with the sirens? is the place on fire? >> no. there is escort going out here from the white house. >> you don't have much clout there. >> the vice president apparently is leaving. >> shepard: he might as well. what will the fed do with today's report? it has a meeting in a couple of weeks, you know. >> this was okay report. more importantly it was not strong enough for the fed to back off stimulus programs keeping interest race very low for a long time and into the economy. at its meeting next month it is expected to reaffirm those policies. continue them. shep? >> shepard: peter barnes there at the firehouse. peter, thanks. president obama and governor romney are set to
are with the progress or lack thereof on the fiscal cliff in washington. connell: peter barnes has been covering it all from capitol hill. the attorney said i am here trying to resolve this. it is serious business. he would hope the white house would get serious as well. peter: no substantive progress in the last couple weeks in the discussions with the white house and then kind of taking a slap your at the president. he said this is a moment for adult leadership. the white house does have to get serious on spending cuts and entitlement reform. the republicans are trying to shift the discussion in this debate over to the spending that side. the entitlement reform side. the president hammering them on the tax side of it. especially spending, extending the bush tax cuts for the middle class. connell: are you noticing a difference? is that the way it is shaping up today that the democrats are more optimistic than the republicans because republicans do not think they are getting what they are wanting? >> i watch these press conferences and publii events and sometimes i do not take them as seriously as mayb
happened there. we are joined in moments. and the so-called fiscal cliff dominating debate in washington d.c. a lot of talk. what about the finances in state capital all across the country? folks are kind of ignoring another source of -- well, let's say inched. take a look at some of the worst offenders in the "chalk talk" here next. stay with us. ♪ [ engine revs ] ♪ ♪ [ male announcer ] e mercedes-benz winter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lea a 2013 ml350 for $599 a month at your local mercedes-benz dealer. now we need a little t more... [ male announcer ] at humana, we understand the value of quality time and personal attentn. which is why we are proud to partner with health care professionals who understand the difference that quality time with our meers can make... hat's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the
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out of washington from the fiscal cliff negotiations. at the closing bell the dow was up 36 points. green arrows across the board. >>> shares of zumiez wiped out after the bell. the company's third quarter profit fell 10%. zumiez blamed the short fall on weak sales in europe. earnings for the action sports retailer missed profits estimates by seven cents. revenue also fell short of forecast at 180 million bucks. >>> but investors in late trading are snapping up shares of specialty value retailer five below. earnings per share topping estimates by two pennies a share, and revenue better than expected at $86.8 million. that is the latest from the fox business network, giving you the power to prosper david: we have breaking news coming out of groupon. there have been some questions whether their ceo would remain. well, they had a board meeting. it has concluded and we're getting word that andrew mason, the groupon ceo, will remain as head of that company. liz: stock's been down of course. a lot of concern but he survives! mason survives. >>> the commercial real estate market is buildi
tumble over the "fiscal cliff" but in washington signs of movement among lawmakers. cbs reporter danielle nottingham on how the president is holding their feet to the fire. >> reporter: president obama is enlisting middle class americans to pressure congress to back away from the "fiscal cliff." >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: he will take his case on the road friday and is asking the public to join a twitter campaign calling on lawmakers to renew tax cuts for families making less than $250,000 a year without delay. >> he is campaigning for his position. i get it. we understand it. but at the end of the day he has to lead on this issue. >> reporter: while congressional leaders meet behind closed doors, some of the biggest names in corporate america are here on capitol hill meeting with lawmakers pushing for solutions. former tennessee governor phil bredesen told lawmakers everything needs to be on the table. >> i think there's a broad recognition it has to be both revenue and serious work on entitlements to make it happen. >> r
. >> sreenivasan: wall street tracked the ups and downs of the fiscal cliff drama in washington today. at one point, the dow jones industrial average was off more than 100 points. but stocks made up the ground after the president's talk of a deal by christmas. the dow ended with a gain of nearly 107 points to close at 12,985. the nasdaq rose 24 points to close well over 2,991. a moderate republican senator susan collins of maine voiced new concerns today about u.n. ambassador susan rice. it stemmed from rice's initial account, on a sunday talk show, of the attack on the u.s. consulate in benghazi, libya. at the time, she said it began as an anti-american protest, but she now says she was working off faulty intelligence. rice met with collins for 90 minutes today, but afterward the senator remained critical. >> i still have many questions that remain unanswered. i continue to be troubled by the fact that the u.n. ambassador decided to play what was essentially a political role at the height of the contentious presidential election campaign by agreeing to go on the sunday shows to present the adminis
leaders and talk about specific proposals from both sides for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax increases that are looming at the end of the year. some very specific meetings with a handful of lawmakers who could have a huge impact on your paycheck come january 1st. . treasury secretary tim geithner and white house legislative chief rob neighbors bring the president's deficit-cutting plan to capitol hill today. >> i am very open to a fair and balanced approach to reduce our deficit. >> reporter: republicans want to know, does that approach include the government spending less money? >> we've put revenue on the table, as long as it's accompanied by serious spending cuts. >> reporter: white house negotiators are meeting with boehner and top republicans and democrats. executives from big companies heard the plan wednesday at the white house. at least one thinks there could be a deal
speaker, john boehner, both expressing optimism on those fiscal cliff negotiations in washington. the dow rallied 100 points yesterday off of those comments. how many times have you heard me say congress will mess it up. >>> goldman sachs ceo met with the president and others yesterday for those fiscal cliff talks. listen to what he told wolf blitzer when asked if taxes should be raised on those making more than $250,000 a year. if that's what it takes to make the math work when you look at entitlement side and revenue side, i wouldn't preclude that. of course we would have to do that if the numbers drive that way. >> he said america can't afford itself right now the way we're going. fiscal cliff talks today continue with geithner making the rounds on capitol hill. later this morning, third quarter gdp expected to be revised higher. economists expect gdp for july to september to be revised from 2% to 2.8%. that would be good news. this is still modest growth. everyone hopes that next year will be a better year than this one in terms of growth. you want to see more than 2.5% growth consist
after discouraging words from washington on the state of the fiscal cliff. this time it was house speaker boehner speaking with reporters after meeting with treasury secretary tim geithner. eamon javers is in washington with the latest. eamon, the sentiment down here is these guys should stop talking and start crafting a deal. >> reporter: that's the sentiment here in the hallways of capitol hill as well, sue. i can tell you that. we are starting to get a little more clarity on what's going on here today. i just had the chance just a few moments ago to button-hole senator harry reid here in the hallway, asking him a very specific question. i said did treasury secretary tim geithner come up here with a new specific offer for republicans? is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we
, too. you know, as the fiscal cliff discussion approaches in washington, there is a lot of talk about budget cutting. do you worry about in this era of austerity that less money is going to be spent on things, important things like worker safety? >> i think we should all be deeply worried about that, because the risk of spending less on safety is going to result in people being maimed, disfigured hurt, killed on the job, where it doesn't have to happen, the disaster at the upper big ben mine wasn't an accident. it was the result of a willful disregard of health and safety and a failure to enforce that effectively. in an era of budget cutting we risk repeating that. >> well, there were some other -- there was other news today out on the industrial front, which is we also learned that two b.p., british petroleum rig supervisors and former beep executive pleaded inning from charges stemming from the 2010 deep water horizon rig disaster. they claim their scapegoats for higher ups like former c.e.o. tony hayward. b.p. had fines on the civil side. do you think that they were being scapegoat
on encouraging news from washington on the "fiscal cliff" issue. ashley morrison of cbsmoneywatch.com joins us. good morning, ashley. >> reporter: good morning, to you, frank and michelle. asian markets got a lift this morning on growing optimism from debt talks in washington. tokyo's nikkei rose 1% while hong kong's hang seng also gained about 1%. the improvingometer mitchell on the "fiscal cliff" gave wall street a boost, as well. the dow added 106 points after being down triple digits earlier in the day. while the nasdaq was up 23. >> could the dollar bill be going out of style? a congressional panel is once again calling for the u.s. to stop printing singles and switch entire to dollar coins. the nonpartisan panel believes the switch could save taxpayers money. it is more expensive to produce the coins but they last about 6 types longer than the paper bills. i don't know. it's going to make my bag heavier for sure. >> that's what i was thinking. my purse is already heavy. >> got four bucks? let me see it here. >> ashley, from time to time frank will go and make a starbucks run for us but i
solution to avoid the fiscal cliff. take a look at an abc news washington post poll that shows 60% of americans support upper income americans having their taxes raised. 37% oppose it. on issue of reducing deductions, 44% support that. 49% oppose it. much like lawmakers they realize there is a big problem that needs to be fixed but divided on how to fix it. >> in addition to the goings on in the capitol there is a big lunch at the white house today. governor romney coming by for a bite to eat. a lot of speculation about what might be discussed at the meal and the possibility of maybe future job? >> jay carney pushed back on that yesterday. the president said there was no suggestion here that he had a special assignment for him. the president invited mitt romney to come to the white house because he wanted to talk about moving the country forward. the president pointed out that out there on the campaign trail mitt romney had good ideas. he wanted to talk to him about that. not necessarily partisan ideas but ideas like job creation for the middle class. the president pointed to mitt
debt push has doubters in the discussion about the fiscal cliff. host: and in the washington post is a picture of three c.e.o.'s coming out of the white house. this is patricia wuertz, she is the chief executive of archer daniel's midland. emmett fraser of merck and another person walking out. we're going to move onto william in maryland on our republican line. hi, william. caller: gorn. i love watching c-span, i'm a first time caller. host: welcome. caller: thank you. i'm not the greatest at this, but i can tell you as an african-american republican, who is a home owner association's president for his community of 339 homes, and someone who works in security, and someone who volunteers at least 40 hours a week on his community, there is a issue with us as americans and picking up slack. we put too much on the federal government to do. we as people need to stand more for each other and help each other. and i guarantee you if we took the money out of the politics, and we as the people stood together with one another and helped each other as in the churches and the communities, just
of washington, if we go over the fiscal cliff by december 31, is there a big opportunity for this market to sell off? it doesn't seem like it's priced in that we go over. >> maria, if we go over the cliff, sure, we're going to have a reactionary selloff. when you look at the fed now talking about qe-4, economic statistics are getting better, not worse. europe is slow e lily resolving issues. >> that reverses in the first quarter if we go over the cliff. >> it depends how we go over. if we go over for a couple days and they get a deal, it's fine. if this thing really breaks down, sure, that's not priced in. i don't think that's where we're going. >> you're from california, correct? >> i live there, yes. >> doesn't make you a bad person. >> i'm from buffalo too. >> it explains why he's stylish, right? well, i live in california. we voted to raise income taxes and sales taxes. california is, what, one-seventh of the u.s. economy. >> jerry browne's miracle. >> i'm going to get a bill as well as every other californian asking for money. >> what is your point? >> that will have a negative impact on th
powerball, fiscal cliff, where are we with all of this, tavis? this is the increasingly impoverished in america, and then you have this washington battle that appears intrangient as it has ever been. meanwhile, the debt rises to $16 trillion. >> i hoped that the president would say this, he has not, as yet. and i'm not holding my breath any longer, giving the clip you just showed. but the short answer, fiscal cliff is really just a masquerading of austerity, it is austerity in disguise. and the president and those of us who care about the future of this country in terms of this gap between have gots, and have notes, this is just austerity, they want to now basically scare those americans who are already on the short end of the stick with this conversation about a fiscal cliff. when the reality is that millions of americans have already gone over the fiscal cliff. and so this is a conversation that in some regards is a waste of time in washington, we ought to be talking about creating jobs and not about deficit reduction. it troubles me when the president himself even seems to go for
with lawmakers today about possible spending cuts. he's also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on lawmakers to extend the tax rates on families making less than $250,000 a year. once that's done they can work on other details such as spending cuts and changes to the tax code, medicare and medicaid. >> he's out there campaigning for his position. i get it. we understand it. at the end of the day he has to lead on this issue. >> reporter: some republican lawmakers have said they are willing to compromise on the tax issue. oklahoma representative tom cole said the gop
about to happen. >>> tell washington. will lawmakers send americans off the fiscal cliff with a huge tax increase? the president asks middle class people to help make his case for action. >>> triple threat. three big storms, one after the other, about to pound the west coast. >>> and, made in america. do you want to make a difference, creating american jobs? david muir tonight shows us how to do it together for a happy holiday. >> we're in! >> we're in! >>> good evening. right now, millions and millions of americans are lining up to take a chance on a giant dream. a powerball ticket that could be worth more than half a billion dollars. the biggest in its history. the drawing is tonight. and some people have been willing to wait 2 1/2 hours in the long lines in arizona, while coast to coast, tickets are flying across the counters, 130,000 sold every minute. and that adds up to 7 million tickets sold every hour. so, we asked abc's steve osunsami to make his way into the vault where the lottery balls are kept under lock and key and tell us about all the americans hoping toni
thes right. cult, the fiscal cliff is the ng er difficult situation facing washington. and we just heard senator gndsey graham, a republican say the whiok, we've given a little bit. ho now we're waiting for the white ayed. to give a little bit on ectitlements is the game that's being played. what do whoa expect next? > we'll go back and forth. key thing to keep an eye on, is this tax rates going up. republicans, including lindsey graham, have talked about revenue. taxhe said i don't ever want to see tax rates go up. that's that's the key thing to watch. ortedjor reported, the president is saying tax rates must go up. we only way you're going to buy ans to get tans to get tax rates to go up would be to show some ewhere whereon somewhere where democrats would feel some pain thethat would be in the entitlement area. curity,sident doesn't want to ments social security and really republicansng to do something n ultimatws republicans to save ace in an ultimate deal where hey can say, look, this is what we got. we didn't just totally get rolled by the president. f front page of the wall
.com stay with us for the up to the minute in tone in washington today -- as the fiscal cliff looms. kron4's political analyst michael yaki is here to talk about it all -- however, only 34 days until the united states faces the our political analyst, michael yaki is on set tobut first let's go to vicki? >> politicians in washington are trying to reach a compromise before the january first deadline. if no deal is reached -- tax increases and effect. president obama says the people need to be part of the fiscal cliff debate. and today, he's taking his message on the road. >> i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> but republican lawmakers, question the president's decision to leave washington. >> in other words rather than sitting down with lawmakers of both parties and working out an agreement he is back on the campaign trail presumably with the same old talking points that we are all quite familiar with. >> mister obama assured the public he is doing his part.
of action in washington on the fiscal cliff talk. >> we're going to begin there. signs, perhaps, of a potential compromise there to avoid the so called fiscal cliff that would raise taxes on a typical american family by some $2,200. republican congressman tom cole, of oklahoma, is urging republicans to accept president obama's deal and allow the bush-era tax cuts on the wealthy to expire for now. so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today, president obama is hosting mitt romney at the white house for a private lunch. after the election, the president promised to reach out to romney for his ideas. >>> and overseas, the u.s. could be getting more involved in the civil war in syria. "the new york times" is reporting the obama administration is considering options, including arming the rebel fighters there who have made progress in recent days in battling bashar al assad's forces. >>> and more trouble for president obama's expected nominee for secretary of stat
't be fixed at this point? are we not going to come to a resolution of the fiscal cliff? you've been watching this a very long time. >> i have, and i think the tragedy of this is that there's a deal to be had, and it does not involve all tt much. it involves significant pain for almost everybody, but you're not going to do it without bringing that pain to both sides, and the real trouble we've got now is that we've got a try -- tribal atmosphere. it's a question whether obama and the surrogates can take a message back to the troops who are dug in hard and basically say we had to give this up, but we got that in return. it's the classic give and take. gerri: it's interesting. i see what you're saying. i understand your point, but the president is not even involved in the negotiation, at this point. he's traveling, doing other things. shshould he be at the table? would it imprprove his hand if , himself, were there? >> you know, he did that kind of negotiates with boehner th last time over the debt limit. i think what you're seeing now with a president who got re-elected with 332 electoral vote
and no fiscal cliff fights are going to stop him from a shopping blitz at washington's new costco super store. the veep came looking for pies and left with a television, books, fire logs, and a huge smile trailed by a horde of surprised shoppers. >> just walking through this store. get some guidance. >> you know, i have a feeling that the president may have missed his usual lunch partner at the midday meal today. joining us from washington is msnbc own historian the great chris matthews, the host of "hardball" and the author of quk jack kent, elusive hero," available now. highways t that's the advertising over. we learned the menu including white turkey chili and no humble pie after all. >> no dessert at all. i wondered about that double helping of poultry. what a strange meal. the turkey and then the chicken part. it's a strange meal. must have been dietary rules. i don't think that's a natural decision by the chef. strange meal. >> how do you think the meeting went though in truth? >> i think it's been screwed up because mr. romney, the governor, gave a wonderful concession speech, he came
until the united states plunges off the so-called fiscal cliff. as the january 1st deadline looms large over washington, republican heavyweights from house speaker john boehner to majority leader eric cantor announced yet again today they're willing to make major concessions to the democrats in order to avert disaster. take a look. >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. it's one reason why we believe that we put revenue on the table as long as it's accompanied by serious spending cuts. >> we have done our part. we have put revenues on the table. something that we dtdn't do two yearyears ago during the debt ceiling negotiations. >> sean: we'll get into what, quote, unquote, revenue really means, and whether it includes tax hikes. as you just heard from the republican leadership they're offering up real solutions on how to avoid falling often the so-called fiscal cliff. the president however still thinks he's out there on the campaign trail, in fact using the exact same class warfare that we all gr
saw a headline going by that the markets remain tethered to the fiscal cliff talks. certainly we're seeing market reaction to each headline out of washington but also these earnings. let's talk about some of these names here, looking particularly at kroger the large supermarket company. revenues beat the street. i just did a long term search, it is a multiyear high actually for kroger which is up more than 4% so to highest levels we've seen since 2009. they also raised their full-year earnings forecast. they have seen consumers boosting their purchases and that is because food prices have actually come down some. that is some good news there for kroger. as far as la-z-boy, their shares have been under some pressure. their results for the third quarter missed analysts expectations. they have been working on marketing campaigns. they do think that is delivering strong results. think reinstated quarterly dividend. that is good news since they haven't done so since 2008. they're underpressure after missing the numbers, down 12%. back to you. melissa: nicole, thanks so much. oil on tr
today to persuade president obama and congress to avoid the fiscal cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone making less that $250,000 a year. >> 97% of small businesses would not see their income tax go up by a single dime. even the wealthiest americans would still get a tax cut on the first $250,000 of their income. >> reporter: the speaker dismissed a call from a fellow republican to give the president what he wants, saying it's not good economics to raise tax rates on small businesses. >> going over the fiscal cliff will hurt our economy and hurt job creation in our country. this is not good for our country. it's as simple as that, and the pr
no comment yet. >> the president is sending the treasurey secretary to capitol hill for fiscal cliff talks with congressional leaders. jamie joins us now by skype from washington dc. any progress in clearing the gap? >> reporter: we are trying to figure out that right now. he was just down stairs from me in the capitol a little while ago. his first meeting with harry reid, next meeting now with john baynor. we hope to hear from both of them in about an hour. nobody is quite sure whether this is a new plan that they are bringing up to sort of shop with leaders, you know we -- if we were talking about negotiations today on the fiscal cliff we may think of a big room or everybody is meeting together at once. that's not what is going on. he is meeting first with reid and then with baynor, later with the senate republican leader, and then later today with nancy pelosi. it's individual meetings that are going on today. that leaves a lot of us to wonder how much progress there is. >> and a lot of the republicans seem to be upset that the president is not meeting with them, that he is sending del
. >> a nice collector. >> absolutely. >>> when it comes to avoiding the so-called fiscal cliff, where do we stand in washington's version of let's make a deal? we'll break down the negotiations with two top political strategists, ari fleischer and paul begala are both standing by live right here in "the situation room." [ gordon ] for some this line is a convenience. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foundation in the drive to end hunger by visiting drivetoendhunger.org. [ male announcer ] can a car be built around a state of mind? ♪ announcing the all-new 2013 malibu from chevrolet. ♪ with a remarkable new interior featuring the available chevrolet mylink infotainment system. this is where sophisticated styling begins. and where it ends? that's up to you. it's here -- the greatest malibu ever. ♪ now is a good time to think about your options. are you looking for a plan that really
for signs of progress, jon. jon: we are, indeed. mike emanuel, keeping an eye on the fiscal cliff negotiations for us there in washington. thanks, mike. jenna: from capitol hill to the white house now, and right now the president is getting ready to host governor mitt romney for lunch. the former rivals will be meeting behind closed doors in a private white house dining room. reporters were not invited. jon: oh, gee. jenna: left off that invitation list. jay carney says there's no formal agenda, and we don't know the menu as well. very curious ability what they're serving today n. his victory speech, president obama said he was looking forward to sitting down with governor romney and talking about ways they can move together to move the -- they can work together to move the country forward. he will also meet with his former running mate, congressman paul ryan. jon: vice president joe biden today calling for a middle class tax cut while getting in some christmas shopping as well. mr. biden visited the first costco store to open in washington. we won't tell you what he bought to put
bernanke and interest rates and what's going on in washington beyond the fiscal cliff. he's got lots of views. >> does he pull punches about bernanke? >> there's a couple comments i think we'll run in the 7:00 or 8:00 hour, he's diplomatic about it, but if you listen very carefully, i think you know where he stands on a lot of the stuff. he talks about the punch bowl and having to take around the punch bowl before -- >> the lead story in the journal -- >> the fed stimulus. we're back again. >> operation twist is supposed to be up january 1st. >> he's also got interesting theories on the volcker rule and banks still. so we'll be running some of that throughout the broadcast. >>> in corporate news, rio tinto plans to cut cost and sell more assets. and two audit firms are now being sued regarding the acquisition of hp. shareholder law side has named deloitte and kpm claiming they missed numerous red flags. board of directors also named. >> a magnetic lawsuit. you see the press release go out and someone has to boiler plate to say, okay, we're the accountants, we're the bankers, here we
about this fiscal cliff and her attitude toward it. i want to you react to it. >> sure. >> it's not a good idea to go over the fiscal cliff. no one wants to see that happen. it is a bad idea. but a worse idea is to accept a compromise that allows the wealthy americans to continue to not pay their fair share because the result of that will be middle class families will bear the entire burden of the challenges that this country faces. that's not fair or responsible. >> how do we do it? how does this country manage to get a decently fair deal in time to beat this cliff, avoid it? >> tom cole said it all. take what the president has offered right now. make sure that 98% of the people aren't affected by any tax increases. that's how we get it started. and patty is absolutely right. we have all these problems facing us and this is the way to do it. a bad deal would be saying to the millionaires and billionaires, you're going to get a big tax break. that's what the elections was about. we held an election. it isn't as if this was a sidebar issue, chris. this was a main issue. >> i kn
hearing out there? what's your take first on the fiscal cliff? what are you seeing in terms of customers? how is it influencing your decisions? >> i'd say it's paralyzed everybody. you're hearing this from everybody. we all are sort of watching this dance in washington and not understanding, like -- i think it's common sense has left washington. you have to come up with spending cuts. i think those of us that will be targeted in a tax hike, which i don't consider a tax hike, really. i think the payroll tax cut, which didn't really work, it didn't boost the economy. also, the rising capital in income tax rates is acceptable, but only if the democrats get serious about cutting spending. >> so far, we haven't seen any real ideas in terms of -- >> it's a joke. it's a joke. you get more revenue from raising taxes, but you haven't cut spending. you're just putting off another disaster. it's so obvious you should raise the retirement age in the united states. there are easy, noncontroversial things. >> we're living until 100 now. we still vice president chanhad retirement age. >> i think $250,0
but president obama is demanding republicans vote now to prevent the worst fall off the fiscal cliff, tax hikes on 98% of americans. >> the first job is to make sure tax on middle class families don't go up and since we all agree on this we should get that done. >> reporter: house democrats agree. >> if we can get a few house republicans to agree, as well, i will sign this bill. >> reporter: republican tom cole got on board. >> we all agree that we are not going to raise taxes on people that make less than $250,000. >> reporter: house speaker john boehner says no. once tax breaks get blocked democrats can go home for the holidays and on january 1 tax rates rise automatically for the top 2%. worried ceos came to capitol hill saying congress has to avoid the cliff. >> entitlements have to be touched and revenues have to be touched. >> to make sure we have revenue necessary in order to move this economy forward. >> we are willing to put revenue on the table as long as we are not raising rates. >> reporter: the president says no long-term deal without a rate hike on the rich. he is urging the middl
's "washington journal." host: julie, let's start with the fiscal cliff. where does health policy, health care fit into this if at all? guest: obviously what -- there's nothing about the fiscal cliff that particularly impacts the health law. we do know that starting january 1, if congress does not act, there are these automatic cuts that take effect. compared is impacted only slightly. there will be 2% cut to payments to providers, not to beneficiaries, medicaid is excluded. however also on january 1, this is not part of this whole sequester piece, there is the problem medicare physician fees, the perennial problem, it happens to also expire in conjunction with everything else that happens on january 1. there would be a 27% cut to doctor payments under medicare, something that congress continues to not let happen, but they have to find several billion dollars, or if they want to make it go away for good, several hundred billion dollars to fix that problem. so there are a lot of health related issues involved in these negotiations. there are a lot of people, a lot of republicans, who would like
the fiscal cliff. >> i will go anywhere and do anything it takes to get this done. it's too important for washington to screw this up. >> and john boehner, not to be outdone, put a little early present under the tree too. >> i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> these are pretty glum faces to deliver those presents. no smile from either one of them. but investors didn't care, they're excited about the present, the dow gained more than a full percent throughout the day. will we have a true christmas miracle? courtesy of those two. oh, let's hope that they don't wear those hats. i spoke this evening with republican senator john cornyn of texas, he's the republican whip and member of the finance committee, and i asked him what has he actually done to help get this deal done, not the night before, but before christmas. >> we have said that revenue, is something that the president said he needs, we have made the point that revenue is on the table. even if we were to conceive hypothetically, what the present has asked for,
of the fiscal cliff mess, the demise of grover norquist and his anti-tax pledge. he is a conservative industry in washington. he has managed to intimidate people with a certain degree of power but it is starting to unravel. former senator, alan simpson, may be wrong on many things but he has nailed grover norquist. >> he was gathering up those signatures back in the '80s and early '90s when inflation was zip, when unemployment was zip and anybody who would sign anything before they come to congress and hear the debate and participate in it hopefully. why would you do that? it is like selling your soul. let me tell you. he is becoming irrelevant. you can see it in his eyes. he knows the game is up, because good people of good faith have decided instead of being republicans or democrats, they are americans. >> according to norquist, republicans only need to worry if they violate the pledge. >> it is possible if the republicans lose in such a way that they have their fingerprints on the murder weapon then you have a problem. >> murder weapon. norquist also takes cheap shots in defending his anti-
in the senate, or big influence over what his party does on the fiscal cliff or almost anything else. kristin, i wanted to ask you about cabinet choices because susan rice is at u.n. in her role as u.n. ambassador leading the u.s. argument on the palestinian vote on symbolic, nonmembership in the general assembly. but there were hearings again on the hill. we'll talk to joe lieberman in a moment. what is state of play whether the president is sticking with her in he did quite the show of support during the cabinet meeting yesterday at a photo op. >> reporter: he has publicly maintained that show of support. officials say that despite the fact that susan rice continues to come under fire from a number of lawmakers, including those woman she met this week say they have more questions after having met with her, senior officials tell me the president is not turning away from her, that he is still holding her up as a high possibility as one of his choices for secretary of state. of course the meetings go on the investigation goes on. senior officials tell me the president is standing by her, not only
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